The Principals
PersonRelationship Network
| Connected Entity | Relationship Type |
Strength
(mentions)
|
Documents | Actions |
|---|---|---|---|---|
|
organization
OUP
|
Control |
8
Strong
|
2 | |
|
organization
k12
|
Control licensing |
7
|
1 | |
|
organization
KUE
|
Ownership management |
6
|
1 | |
|
person
Independent Committee
|
Oversight regulatory |
6
|
1 | |
|
organization
KUE
|
Ownership control |
5
|
1 | |
|
person
The General Partner
|
Control authority |
5
|
1 | |
|
organization
KUE
|
Control investment vehicle |
5
|
1 | |
|
organization
Enterprises
|
Ownership |
5
|
1 | |
|
organization
UN
|
Ownership |
5
|
1 | |
|
organization
KUE
|
Control |
5
|
1 | |
|
organization
LLC
|
Control |
5
|
1 | |
|
organization
KUE
|
Control affiliation |
5
|
1 |
HOUSE_OVERSIGHT_024494.jpg
This document is page 61 of a business report (Bates stamped HOUSE_OVERSIGHT_024494) titled 'Industry Overview'. It outlines KUE's (likely Knowledge Universe) investment thesis regarding Human Capital, arguing that education is the primary driver of value in the modern economy. It cites 2005 data from the Federal Reserve and economist Gary Becker to contrast the $238 Trillion Human Capital market against the $62 Trillion U.S. Balance Sheet.
HOUSE_OVERSIGHT_024478.jpg
This document is page 45 of a financial offering memorandum (likely a PPM) detailing risk factors associated with a $280 million investment offering closing around March 31, 2007. It outlines risks related to international expansion in the for-profit education sector, specifically regarding currency fluctuations, political instability, and legal differences in foreign jurisdictions. It also highlights the company's dependence on key personnel referred to as 'the Principals' and mentions entities KUE LLC and KLC.
HOUSE_OVERSIGHT_024571.jpg
This document is page 138 of a legal agreement, likely a Private Placement Memorandum, bearing a House Oversight Committee stamp. It details the operating structure of an entity named 'KUE' and its 'General Partner' concerning ERISA (Employee Retirement Income Security Act) compliance to avoid assets being classified as 'plan assets.' Crucially, section 17.3 outlines Anti-Money Laundering (AML) compliance protocols specific to the Cayman Islands, granting the General Partner broad authority to verify investor identities and refuse payments to prevent money laundering.
HOUSE_OVERSIGHT_024568.jpg
This document page details financial indebtedness and affiliate transactions involving Knowledge Universe Education (KUE), k12, and the Milken brothers (Michael and Lowell). It outlines a $150 million loan used to repay debt to Michael Milken's entities, details the Milken brothers' ownership of k12 trademarks and stocks, and identifies Condors LLC as a lender for a mezzanine loan. The document bears a House Oversight stamp.
HOUSE_OVERSIGHT_024558.jpg
This document is page 125 of a legal agreement (likely a partnership agreement) outlining investment restrictions and transferability rules for an entity named KUE (likely Knowledge Universe Education). It mandates that KUE be the exclusive vehicle for the 'Principals' to invest in pre-K through 12th-grade education companies, with specific exceptions for LeapFrog Enterprises, Nobel Learning Communities, and K12 Inc. It also details strict restrictions on the transfer of investor units, requiring General Partner approval.
HOUSE_OVERSIGHT_024557.jpg
This document is a page from a legal agreement, likely a Private Placement Memorandum or Partnership Agreement, concerning an entity named 'KUE' and 'KUE LLC'. It outlines provisions for the sale or listing of the entity within nine years, ensures equal consideration for Investors and Principals during mergers (Section 14.14), and establishes strict governance and approval thresholds for 'Related Party Transactions' involving the Principals (Section 14.15). The document bears a House Oversight Committee Bates stamp.
HOUSE_OVERSIGHT_024549.jpg
This document is a page from a legal memorandum (likely a Private Placement Memorandum) detailing the corporate structure, liability, and capitalization of an entity named KUE (Knowledge Universe). It outlines Cayman Islands and Delaware legal frameworks regarding director liability and 'piercing the corporate veil.' It breaks down ownership stakes projected for March 31, 2007, specifically giving 'The Principals' (via KUE LLC) 60% ownership and Investors 40% ownership.
HOUSE_OVERSIGHT_024470.jpg
This document is page 37 of a legal agreement (likely a Private Placement Memorandum or Partnership Agreement) concerning an entity named 'KUE'. It details the 'Illiquidity Period' (7 years) and the protocols for a future sale or Initial Public Offering (IPO), specifically outlining conflict of interest rules for 'The Principals' if they choose to bid on the company versus the role of an 'Independent Committee'. The document is stamped with a House Oversight Committee identifier.
HOUSE_OVERSIGHT_024467.jpg
This document is page 34 of a Private Placement Memorandum or Limited Partnership Agreement for an entity named KUE (likely KUE LLC). It defines 'Related Party Transactions' and establishes governance thresholds: transactions over $1 million involving the Principals require specific definitions, while those between $1 million and $50 million require Independent Committee or Limited Partner approval. Transactions exceeding $50 million require approval from both the Independent Committee and a majority of unaffiliated Limited Partners.
HOUSE_OVERSIGHT_024464.jpg
This document is page 31 of a legal agreement (stamped House Oversight) detailing profit distribution waterfalls and merger provisions for a partnership involving KUE LLC. It specifies that 'The Principals' operate through KUE LLC and outlines complex rules regarding high-vote versus low-vote securities during corporate restructuring or subsidiary distributions. The text defines an 'Equal Merger Consideration Provision' ensuring Principals and Investors receive similar economic consideration during sales or mergers, with exceptions for voting rights during restructuring.
HOUSE_OVERSIGHT_024462.jpg
This document page outlines the complex equity structure and transfer restrictions for entities under the 'Knowledge Universe' umbrella (KUE, KUH, KULG), controlled by unnamed 'Principals.' It details the distribution of LP Units, Class A and B Shares, and Profits Participation Units based on financial milestones, including a $1.5 billion investor purchase threshold. The text specifies that shares are generally non-transferable except to the Principals, their affiliates, or for estate planning purposes.
HOUSE_OVERSIGHT_024451.jpg
This document appears to be page 18 of a financial memorandum (likely related to an offering or due diligence) bearing a House Oversight stamp. It outlines risk factors involving government funding, labor issues, and environmental contamination, and explicitly notes material weaknesses in KLC's (Knowledge Learning Corporation) internal controls during the 2005 audit. The document also details the trademark portfolios of KLC, KinderCare, and k12.
| Date | Type | From | To | Amount | Description | Actions |
|---|---|---|---|---|---|---|
| N/A | Received | KUE | The Principals | $1,000,000.00 | Compensation cap exemption: Compensation/benefi... | View |
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